An investor group including Berkshire Hathaway Inc., a holdingcompany primarily involved in the property and casualty insurancebusinesses, jumped into the energy sector yesterday by purchasingMidAmerican Energy Holdings Co. for over $2 billion. Overall, thetotal enterprise value of the transaction is $9 billion.
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Tesoro Selling Domestic E&P to EEX
Tesoro Petroleum Corp. of San Antonio, TX, agreed to sell all ofits domestic exploration and production business to EEX Corp. ofHouston for $216 million.
Dynegy’s May Prices Increase $0.45
The increase in prices is primarily attributable to increased demand for electric generation and storage injections.
Reliant Buys Retail Operations of COM/Energy
Reliant Energy, formerly Houston Industries, has purchased theretail gas marketing assets of Commonwealth Energy Systemsubsidiary COM/Energy Marketing for an undisclosed sum. The assetsprimarily are made up of contracts with more than 2,000 energycustomers in Massachusetts, Rhode Island and Connecticut, twooffices in Massachusetts and a 10-person marketing team.
RDI Tallies Gas-Fired Power Growth
In a new analysis of power demand growth, Colorado-basedResource Data International (RDI) projects slightly over 186,000 MWof primarily gas-fired electric generating capacity will have to beadded by 2010 nationwide to meet burgeoning demand and to replaceretiring nuclear and non-nuclear capacity. The cost approaches $90billion.
RDI Projects Rapid Growth of Gas-Fired Power
In a new analysis of power demand growth, Colorado-basedResource Data International (RDI) projects slightly over 186,000 MWof primarily gas-fired electric generating capacity will have to beadded by 2010 nationwide to meet burgeoning demand and to replaceretiring nuclear and non-nuclear capacity. The cost approaches$90-billion.
MAPCO Deal Hits Williams’ Earnings
The Williams Companies reported first-quarter 1998 results werereduced primarily by costs related to its MAPCO acquisition,unfavorable conditions in some energy market sectors and continuedinvestment in the company’s communications business.